Monthly Update1 Sept 2025, 11:05 am
TCS Completes One of UK’s Largest Policy Migrations for Lloyds Banking Group’s Scottish Widows
AI Summary
Tata Consultancy Services (TCS) has completed the migration of Scottish Widows’ life and pension heritage book onto its TCS BaNCS™ administration platform managed by Diligenta. The migration covered over 3.8 million customers and replaced a number of legacy systems with the digitally enabled TCS BaNCS™ BFSI platform. This transformation will enable faster and simpler service from Scottish Widows.
Key Highlights
- TCS subsidiary Diligenta completes Life and Pensions Data and Business Process Migration for over 3.8 million Scottish Widows’ policyholders.
- Implementation of Next-gen TCS BaNCS Wealth administration platform for the UK market.
- Migration of 980,000 retail customers’ portfolios to the new platform.
- Transformation will support existing Individual Savings Accounts/Open Ended Investment Company (Mutual Funds) products while enabling future digital servicing for customers.
- Scottish Widows and TCS partnership since 2017 for a core transformation to replace multiple legacy systems with the TCS BaNCS platform.